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84-8-206. Completion or alteration of security certificate. (a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:

(1) Any person may complete it by filling in the blanks as authorized; and

(2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.

(b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.

History: L. 1996, ch. 202, § 49; July 1.

Revisor’s Note:

Former section 84-8-206 was repealed by L. 1996, ch. 202, § 91 and the number reassigned to the current text.


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